F3 Drills 2.0m of 20.6% U3O8 within 7.56% over 5.5m at JR Zone And Encounters Strongly Anomalous Boron in Sandstone at A1B

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Kelowna, BC – November 27, 2023 – Corp. (“F3 Uranium” or the “Company”) (TSXV: FUU – OTCQB: FUUFF – FRA:X42) is pleased to announce additional assay results for the ongoing drill program, including PLN23-086 (see NR dated August 14, 2023) which returned 5.5m of 7.56 % U3O8, including an ultra-high grade 2.0m interval averaging 20.6% U3O8. At the A1B area, drill hole PLN23-093 encountered a 2.0m interval averaging 5,557 ppm Boron in highly altered Athabasca Sandstone, approximately 17m from the unconformity along the A1B shear.

Sam Hartmann, VP Exploration commented:

“In addition to high grade assay intercepts reported in the JR Zone, we are pleased to discuss our first geochemical exploration drilling results from the A1B area; drill hole PLN23-093, where intense sandstone and basement alteration was previously reported, returned a 2.0m interval with significant individual boron values between 3,000 and 10,000 ppm. Boron values over 5,000 ppm, associated with dravite veining and breccias, have previously only been intersected on the property within Athabasca Sandstone immediately above the JR Zone, 3.5 km away.

PLN23-095, which was a deeper target intercept approximately 800m grid north of PLN23-093, previously reported anomalous radioactivity up to 300 cps within a fault system related to the A1B conductor; this returned basement hosted uranium values up to 58 ppm. To put that into context, PLN23-071 (see NR dated July 17, 2023) on line 165S returned a maximum of 51 ppm uranium in the A1 shear, 45m along strike away from high grade mineralization within the JR Zone. It is our view that in comparison to the JR Zone, the A1B system represents an area of widespread structural complexity, with evidence of significant re-activated reverse structures extending into the sandstone. With this complexity also comes opportunity and I see the A1B shear area among the most prospective places to make the next discovery, considering these first geochemistry results. Going forward we will refer to the A1B shear zone as B1 to differentiate it more clearly from the A1 shear zone, as a separate structure.”

Assay Highlights

PLN23-086 (line 045S): mineralized intervals

2.5m @ 0.18% U3O8 (221.5m to 224.0m), and
5.5m @ 7.56% U3O8 (229.5m to 235.0m), including
2.0m @ 20.6% U3O8 (232.0 m to 234.0m), further including:
0.5m @ 35.7% U3O8 (232.5 m to 233.0m)

Main JR Zone Intercepts

PLN23-084 (line 075S): mineralized intervals

12.5m @ 0.39% U3O8 (232.0m to 244.5m), including
1.0m @ 2.22% U3O8 (237.5m to 238.5m), and

PLN23-090 (line 120S): mineralized intervals

10.0m @ 1.29% U3O8 (232.0m to 242.0m), including
2.5m @ 4.33% U3O8 (239.0m to 241.5m)

PLN23-097 (line 045S): mineralized intervals

13.0m @ 1.34% U3O8 (210.0m to 223.0m), including
4.5m @ 3.52% U3O8 (215.5m to 220.0m)

Exploration Drilling Highlights:

PLN23-093 (line 3450S), B1 Area (formerly A1B):

2.0m @ 5,557 ppm boron (354.5m to 356.5m) in sandstone, including
0.5m @ 10,800 ppm boron (355.0m to 355.5m)

PLN23-095 (line 2610S), B1 Area (formerly A1B):

24.5m @ 25 ppm uranium (602.0m to 626.5m) in basement, including
3.5m @ 41 ppm uranium (604.5m to 608.0m), further including
0.5m @ 58 ppm uranium (607.5m to 608m)

Table 1. Drill Hole Summary and Uranium Assay Results

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Assay composite parameters:

1: Minimum Thickness of 0.5 m

2: Assay Grade Cut-Off: 0.05% U3O8 (weight %)

3. Maximum Internal Dilution: 2.0 m

Composited weight % U3O8 mineralized intervals are summarized in Table 1. Samples from the drill core are split in half sections on site. Where possible, samples are standardized at 0.5m down-hole intervals. One-half of the split sample is sent to SRC Geoanalytical Laboratories (an SCC ISO/IEC 17025: 2005 Accredited Facility) in Saskatoon, SK while the other half remains on site for reference. Analysis includes a 63-element suite including boron by ICP-OES, uranium by ICP-MS and gold analysis by ICP-OES and/or AAS.

The Company considers uranium mineralization with assay results of greater than 1.0 weight % U3O8 as “high grade” and results greater than 20.0 weight % U3O8 as “ultra-high grade”.

All depth measurements reported are down-hole and true thickness are yet to be determined but the Company estimates true thickness of the reported intervals in this news release to be close to reported interval widths.

About Patterson Lake North:

The Company’s 4,078-hectare 100% owned Patterson Lake North property (PLN) is located just within the south-western edge of the Athabasca Basin in proximity to Fission Uranium’s Triple R and NexGen Energy’s Arrow high-grade world class uranium deposits which is poised to become the next major area of development for new uranium operations in northern Saskatchewan. PLN is accessed by Provincial Highway 955, which transects the property, and the new JR Zone uranium discovery is located 23km northwest of Fission Uranium’s Triple R deposit.

Qualified Person:

The technical information in this news release has been prepare in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 and approved on behalf of the company by Raymond Ashley, P.Geo., President COO of F3 Uranium Corp, a Qualified Person. Mr. Ashley has verified the data disclosed.

About F3 Uranium Corp.:

F3 Uranium is advancing the newly discovered high-grade JR Zone on the PLN Property in the Western Athabasca Basin. This area of Saskatchewan is poised to become a major uranium producing region and is home to large deposits including Triple R, Arrow and Shea Creek. F3 Uranium currently holds 18 projects across the Athabasca Basin.

On behalf of the Board
Dev Randhawa
Chief Executive Officer

F3 Uranium Corp.

750-1620 Dickson Avenue

Kelowna, BC, V1Y9Y2

Contact Information

[email protected]

www.f3uranium.com

+1 778 484-8030

www.twitter.com/F3Uranium

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Forward Looking Statements:

This news release contains "forward-looking information or statements" within the meaning of applicable securities laws, which may include, without limitation, statements with respect to the closing of the Debenture issuance and the ability to satisfy the conditions thereof, including receipt of all necessary regulatory approvals and/or the acceptance of the TSXV, the use of proceeds, the participation by others in a similar financing, and the potential for development of new uranium operations in northern Saskatchewan. All statements in this news release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the price of metals, the ability to achieve its goals, that general business and economic conditions will not change in a material adverse manner and that financing will be available if and when needed and on reasonable terms. Such forward-looking information reflects the Company's views with respect to future events and is subject to risks, uncertainties and assumptions, including those filed under the Company's profile on SEDAR+. Factors that could cause actual results to differ materially from those in forward looking statements include, but are not limited to, continued availability of capital and financing and general economic, market or business conditions, adverse weather conditions, failure to obtain the necessary equipment or machinery, failure to maintain all necessary government permits, approvals and authorizations, failure to maintain community acceptance (including First Nations), increase in costs, litigation, and failure of counterparties to perform their contractual obligations. The Company does not undertake to update forward-looking statements or forward-looking information, except as required by law.

The TSX Venture Exchange has not reviewed, approved or disapproved the contents of this press release, and do not accept responsibility for the adequacy or accuracy of this release.

See plan maps below and cross sections at PLN JR Zone| F3 Uranium Corp. under Sections.

A map of a mine site

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